Amarin Co. plc (NASDAQ:AMRN) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 17,514,524 shares, an increase of 13.6% from the February 15th total of 15,412,976 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average trading volume of 10,037,142 shares, the short-interest ratio is currently 1.7 days.
In related news, General Counsel Joseph T. Kennedy sold 1,040,194 shares of the business’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $17.77, for a total transaction of $18,484,247.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph S. Zakrzewski sold 526,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $13.07, for a total transaction of $6,881,355.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,841,072 shares of company stock valued at $49,748,088. Insiders own 4.08% of the company’s stock.
Several hedge funds have recently made changes to their positions in AMRN. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Amarin during the 4th quarter worth approximately $34,000. Neuburgh Advisers LLC acquired a new stake in shares of Amarin during the 4th quarter worth approximately $36,000. Global Retirement Partners LLC grew its position in shares of Amarin by 266.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 1,899 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of Amarin during the 4th quarter worth approximately $40,000. Finally, Financial Advocates Investment Management grew its position in shares of Amarin by 45.0% during the 4th quarter. Financial Advocates Investment Management now owns 29,000 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 9,000 shares during the period. 48.30% of the stock is owned by institutional investors.
A number of brokerages have recently commented on AMRN. BidaskClub raised shares of Amarin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 27th. Cantor Fitzgerald reiterated a “buy” rating and issued a $35.00 price objective on shares of Amarin in a report on Friday, December 7th. Zacks Investment Research upgraded shares of Amarin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Amarin in a research note on Thursday, January 17th. Finally, Citigroup decreased their price target on shares of Amarin to $20.00 in a research note on Tuesday, January 8th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $33.20.
Amarin stock opened at $20.57 on Friday. The company has a market cap of $6.61 billion, a price-to-earnings ratio of -52.74 and a beta of 1.29. Amarin has a 52-week low of $2.35 and a 52-week high of $23.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.40 and a quick ratio of 2.04.
Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $77.30 million for the quarter, compared to the consensus estimate of $73.87 million. The firm’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same period last year, the business posted ($0.08) earnings per share. Analysts forecast that Amarin will post -0.17 earnings per share for the current year.
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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